Value: $75 million

Area: Fintech

Key players: The Ashurst team was lead by partner Jennifer Schlosser and assisted by Ian Kellock, Barbara Phair and Phil Trinca.

Deal significance: OnDeck Australia is establishing a $75 million securitisation warehouse provided by Credit Suisse and backed using OnDeck’s business loans asset portfolio.

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OnDeck as part of the OnDeck group, provides financing for small Australian businesses. The facility represents further investment in Australian fintech and reflects continuing growth of OnDeck in the small business loans sector.

Ashurst partner Jennifer Schlosser expressed her delighted at working with a leader in the small business lending space, saying “there is an established pattern of Fintechs utilising securitisation funding techniques to support growth and obtain funding stability.

“Ashurst has been a long-term supporter of Fintechs and continues to lead the market in the Fintech sector, having acted for OnDeck, Get Capital, Brighte, Judo Capital and Study Loans on the establishment of recent funding programmes, as well as having acted for financiers to Prospa, zipMoney, Money Me, Money 3 and Afterpay, among others.”